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Daily Archives: July 17, 2008

JPMorgan Chase profit falls 53% on loan losses

JPMorgan Chase & Co.’s profit took a 53 percent hit in the second quarter as mortgage and other loan defaults worsened, but the bank’s results were better than expected and gave Wall Street a lift, AP reported.

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Single-family construction down in June

Construction of single-family homes fell in June to the slowest pace in 17 years, AP reported. The Commerce Department said Thursday construction of single-family homes dropped by 5.3 percent to a seasonally adjusted annual rate of 647,000 units.

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Witness tells Congress how U.S. taxes evaded abroad

Henrich Kieber, wanted by Liechtenstein authorities for leaking secret banking information that identified millionaire tax cheats across Europe and the United States, has told congressional investigators how money was concealed, AP reported Thursday.

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Coca-Cola Co. profit falls; charge related to its bottler

Coca-Cola Co. said Thursday its second-quarter profit fell 23 percent as it took a onetime charge related to its bottler. It earned $1.42 billion, or 61 cents a share, compared with $1.85 billion, or 80 cents a share, a year ...

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Merck to fund Vioxx settlement

Merck & Co. will start cutting checks for former users of its withdrawn painkiller Vioxx next month after announcing Thursday it will fund a $4.85 billion settlement expected to resolve roughly 50,000 lawsuits alleging harm from Vioxx, AP reported.

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The itch came back, and Favre can’t stop scratching it

So Brett Favre has changed his mind about his retirement, but the Green Bay Packers have not. Word is, the Packers’ front office doesn’t mind one bit if Favre wants to stick around, as long as he doesn’t mind holding ...

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D&C, union reach contract agreement

After 15 years of negotiations, newsroom union members at the Democrat and Chronicle announced Thursday a new labor agreement with parent company Gannett Co. Inc. The members voted to accept the two-year contract Tuesday, after Gannett officials in late June ...

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Rochester area unemployment rate rises

The Rochester area economy slid again last month, with an increase in the unemployment rate and declines in non-farm and private-sector jobs. The jobless rate in Rochester climbed to 5.4 percent in June from 5.3 percent in May and 4.3 ...

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Bills season ticket sales near record

Season ticket sales for the Buffalo Bills have reached 54,200, third highest in team history behind the 1991 and 1992 seasons that followed the team’s first two Super Bowl appearances. A total of 57,132 season tickets were sold in 1992, ...

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Kirtas Technologies to lay off 35 employees

Kirtas Technologies Inc. plans to lay off some 35 workers from its service bureau at its Victor headquarters and its satellite office in New Haven, Conn., after Microsoft Corp. withdrew from a deal with the firm. Kirtas spokeswoman Deanna Vincent ...

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Hillside affiliate names executive director

Roderick Green will serve as executive director of the Hillside Work-Scholarship Connection, the organization announced Thursday. Green, who has been serving as interim executive director and previously had been the organization’s director of quality, will oversee operations across the organization’s ...

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Stock newsletter lauds IEC Electronics

IEC Electronics Corp. has been named “Company of the Month” in the July 2008 edition of The Bowser Report newsletter. The newsletter, based in Newport News, Va., selects and recommends stocks using fundamental criteria. “Max Bowser’s analytical criteria are well-recognized ...

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RIT named good place to work

Rochester Institute of Technology has been recognized on the Chronicle of Higher Education’s inaugural “Great Colleges to Work For” list. RIT was cited in six categories: professional-career development program, compensation and benefits, tuition reimbursement, 403b or 401 (k) (retirement plan), ...

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FRIDAY, JULY 18 Rochester Professional Consultants Network Business Forum—Free—7:45 a.m.—Pittsford Public Library, 24 State St., Pittsford—Call Carol McManus at 248-3886 for additional information. MONDAY, JULY 21 RochesterWorks! Job Network Meeting—Free—9 – 11 a.m. and 1 – 3 p.m.—255 N. Goodman ...

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RIT named good place to work

Rochester Institute of Technology has been recognized on the Chronicle of Higher Education’s inaugural “Great Colleges to Work For” list.

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